Cambridge Investment Research Advisors Inc. Boosts Stock Position in Docusign Inc. (NASDAQ:DOCU)

Cambridge Investment Research Advisors Inc. raised its position in shares of Docusign Inc. (NASDAQ:DOCU) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,093 shares of the company’s stock after purchasing an additional 1,251 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Docusign were worth $4,078,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Truist Financial Corp boosted its stake in shares of Docusign by 57.8% in the fourth quarter. Truist Financial Corp now owns 7,318 shares of the company’s stock worth $658,000 after buying an additional 2,680 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Docusign by 249.3% in the fourth quarter. IFP Advisors Inc now owns 2,798 shares of the company’s stock worth $252,000 after buying an additional 1,997 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Docusign by 61.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,673,612 shares of the company’s stock worth $150,525,000 after buying an additional 637,505 shares during the last quarter. Nwam LLC purchased a new stake in shares of Docusign in the fourth quarter worth about $222,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Docusign by 2.1% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 82,100 shares of the company’s stock worth $7,384,000 after buying an additional 1,700 shares during the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DOCU shares. Hsbc Global Res upgraded Docusign from a “moderate sell” rating to a “hold” rating in a research note on Friday, April 11th. Citigroup lowered their target price on Docusign from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Monday, June 9th. UBS Group reduced their price target on Docusign from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, June 6th. Jefferies Financial Group reduced their price target on Docusign from $115.00 to $105.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley reduced their price target on Docusign from $92.00 to $86.00 and set an “equal weight” rating for the company in a report on Friday, June 6th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.77.

Insider Buying and Selling

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now directly owns 86,156 shares in the company, valued at approximately $6,555,610.04. This represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $74.37, for a total value of $39,713.58. Following the completion of the transaction, the director now owns 8,805 shares of the company’s stock, valued at $654,827.85. The trade was a 5.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,052 shares of company stock worth $4,101,776. Company insiders own 1.01% of the company’s stock.

Docusign Price Performance

Shares of Docusign stock opened at $76.47 on Friday. The business has a 50 day simple moving average of $82.17 and a two-hundred day simple moving average of $85.11. Docusign Inc. has a 12 month low of $48.80 and a 12 month high of $107.86. The stock has a market capitalization of $15.45 billion, a P/E ratio of 14.46, a PEG ratio of 29.00 and a beta of 1.14.

Docusign (NASDAQ:DOCU) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $763.65 million during the quarter, compared to analyst estimates of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. As a group, research analysts anticipate that Docusign Inc. will post 1.17 EPS for the current fiscal year.

Docusign declared that its Board of Directors has authorized a stock repurchase program on Thursday, June 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Docusign Company Profile

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.